Silver rate today declined on Thursday, February 5, snapping two sessions of gains on profit booking. The white metal has been rising for last 2 sessions amid rising geopolitical strains between the US and Iran. Gold prices also fell in today’s trade.
Silver prices crashed 6% on MCX to ₹2,52,719 per kg while Gold fell around 2% to ₹1,48,455 per 10 gram. Meanwhile, COMEX silver prices tumbled 10% to $73.415 while COMEX Gold prices shed 1.5% to $4,805.
However, in the international markets, spot silver climbed 2.1% to $89.88 an ounce, after reaching a record high of $121.64 last week. Spot gold was up 1.1% at $5,016.89 per ounce, having scaled a record peak of $5,594.82 last Thursday. U.S. gold futures for April delivery also rose 1.8% to $5,036.80 an ounce. Among other metals, spot platinum gained 2.1% to $2,272.55 per ounce after hitting an all-time high of $2,918.80 on January 26, while palladium advanced 0.7% to $1,787.55.